KBC Group NV Has $50.59 Million Position in Atlassian Co. (NASDAQ:TEAM)

KBC Group NV lessened its stake in Atlassian Co. (NASDAQ:TEAM) by 8.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 318,581 shares of the technology company’s stock after selling 30,950 shares during the quarter. KBC Group NV’s holdings in Atlassian were worth $50,594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Asset Dedication LLC grew its holdings in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Trust Co. of Vermont boosted its position in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC purchased a new position in Atlassian in the second quarter valued at about $36,000. GAMMA Investing LLC increased its position in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in Atlassian in the 1st quarter worth about $43,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TEAM. BMO Capital Markets boosted their price target on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their target price on Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Raymond James upped their price target on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Mizuho raised their price objective on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, KeyCorp raised Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price for the company in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus price target of $244.21.

Insiders Place Their Bets

In related news, CAO Gene Liu sold 785 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $240.00, for a total transaction of $188,400.00. Following the completion of the sale, the chief accounting officer now owns 57,938 shares in the company, valued at $13,905,120. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $156.92, for a total transaction of $1,247,200.16. Following the completion of the transaction, the chief executive officer now owns 214,596 shares in the company, valued at approximately $33,674,404.32. This trade represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,248 shares of company stock worth $45,553,294 over the last quarter. Company insiders own 38.55% of the company’s stock.

Atlassian Trading Down 1.1 %

Shares of NASDAQ:TEAM opened at $249.99 on Friday. The business’s 50 day moving average is $184.61 and its 200-day moving average is $173.61. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. As a group, sell-side analysts expect that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Atlassian Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.